29 January 2020 – Hosteltur
The real estate fund Zaka Investments and the hotel group Evok, both owned by Pierre Bastid, have acquired the property located on Gran Vía, 20 in Madrid, which they will convert into a 5-star 59-room hotel.
The duo will invest €65 million in the purchase and renovation of the property, which spans a surface area of 5,000 m2, spread over 7 storeys. The hotel will operate under the Brach brand and represents Evok’s first foray into Spain.
Original Story: Hosteltur
Translation/Summary: Carmel Drake